Belden Inc. (BDC) Announces $0.05 Quarterly Dividend

Belden Inc. (NYSE:BDC) declared a quarterly dividend on Tuesday, November 29th. Stockholders of record on Friday, December 16th will be given a dividend of 0.05 per share on Wednesday, January 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%.

Belden (NYSE:BDC) traded down 0.21% during trading on Tuesday, hitting $74.30. 241,559 shares of the stock were exchanged. Belden has a 1-year low of $36.51 and a 1-year high of $75.91. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 23.07 and a beta of 2.26. The company has a 50-day moving average price of $67.94 and a 200 day moving average price of $67.34.

Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.03. Belden had a net margin of 6.14% and a return on equity of 23.44%. The business had revenue of $601.10 million for the quarter, compared to analyst estimates of $606.66 million. During the same quarter in the prior year, the business earned $1.14 EPS. Belden’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts predict that Belden will post $5.24 earnings per share for the current fiscal year.

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A number of research firms have issued reports on BDC. Zacks Investment Research downgraded shares of Belden from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 20th. SunTrust Banks Inc. downgraded shares of Belden from a “buy” rating to a “neutral” rating and cut their price objective for the company from $84.00 to $79.00 in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Belden presently has an average rating of “Hold” and a consensus target price of $77.00.

In other news, Director Judy L. Brown sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $68.00, for a total transaction of $612,000.00. Following the completion of the sale, the director now owns 22,268 shares of the company’s stock, valued at approximately $1,514,224. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John S. Stroup sold 21,210 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $72.07, for a total transaction of $1,528,604.70. Following the sale, the insider now directly owns 69,969 shares of the company’s stock, valued at approximately $5,042,665.83. The disclosure for this sale can be found here. Insiders own 1.37% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Belden by 13.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,964,274 shares of the company’s stock worth $135,515,000 after buying an additional 240,470 shares during the period. Credit Suisse AG boosted its position in Belden by 28.4% in the third quarter. Credit Suisse AG now owns 73,488 shares of the company’s stock worth $5,071,000 after buying an additional 16,270 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Belden by 65.5% in the third quarter. Ameritas Investment Partners Inc. now owns 16,459 shares of the company’s stock worth $1,136,000 after buying an additional 6,516 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Belden by 998.1% in the third quarter. Panagora Asset Management Inc. now owns 25,971 shares of the company’s stock worth $1,792,000 after buying an additional 23,606 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Belden during the third quarter worth about $5,851,000.